Gifting share of rental property to family member - tax implications

kangaroo19

Hi all, 
Long time lurker, first time poster!
I'm looking for a bit of "basic" advice to see if what is planned is actually achievable before we go down the route of instructing solicitors. 
My partners friend owns a rental property that he is looking to sell and will be subject to CGT. For argument sake, we'll say it was bought for £50 and now worth £100k. I plan to pay £50k cash for 50% of the property, and the other 50% will be sold to my partner. She is owed £20k by him (although nothing written down formally or documented) from a few years ago, and he will give the remaining portion as a gift. 
So basically, only £50k cash is changing hands, £20k is payback of loan and £30k gift (or might be considered legally as £50k gift?). 
CGT will be based on the 100k value, we're aware of that. What we're unsure of is the tax implications of the "gift" portion of the transaction. 
It's a leasehold flat, and no mortgages would be necessary. 
A bit of a messy scenario but hoping for some initial guidance before we pay for solicitors etc. 
Thanks!

Thrugelmir

Gifting doesn't avoid CGT liability for the seller.  As far as the HMRC is concerned market value is the starting point not the consideration paid. Avoidance was blocked many decades ago. The transaction has to be conducted at arms length. 

greatcrested

There's no tax on gifts per se.

The gift is £30K. If the donor dies within 7 years, the £30K gift will be included in their Estate for Inheritance Tax purposes.

SDLT will be based on £70K I believe.

kangaroo19

Thanks for the quick replies. That's right, we're aware that the seller will be liable for CGT on the 100k value. It was more just understanding the implications from gifting the portion of the property - it sounds like it's only an issue for inheritence tax purposes if they die within 7 years - FYI, the person is young and healthy so it's not trying to avoid anything like that.